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Golden State Mutual Life Insurance Company
Estate Trust Officer: Scott Pearce
Email Address: PearceS@caclo.org
Telephone Number: (415) 676-5013
Conservation Date: 09/30/2009
Liquidation Date: 01/28/2011
POC Final Filing Date: 12/31/2013
Closure Date: 10/17/2016
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On January 28, 2011, the Los Angeles Superior Court terminated the Insurance Commissioner's status as Conservator of Golden State Mutual and ordered and appointed the Insurance Commissioner to serve as Liquidator of Golden State Mutual. The Insurance Commissioner was appointed Liquidator because Golden State Mutual was and remains insolvent in that, as of September 30, 2010, Golden State's estimated liabilities of $9,291,895 exceeded its estimated remaining assets of $5,721,154 by over $3.5 million. The Order of Liquidation directs the Insurance Commissioner to liquidate and wind up the business of Golden State Mutual.

On May 30, 2012 The Liquidator and the National Organization of Life and Health Guaranty Associations (NOLHGA) received court approval on a joint application to have the former Group Life Insurance Policy terminated. NOLHGA will accept coverage for the life, and disability benefits owed to former GSM employees, their spouses and dependents that were not previously transferred.

In December 2013 The Liquidator settled the litigation regarding the ownership dispute of two murals that are currently located in the lobby of the former Golden State Mutual home office in Los Angeles.

On December 6, 2013, the Los Angeles Superior Court granted the Liquidator's Application to continue the Claims Bar Date to December 31, 2014. The Claims Bar Date is the date that claims against Golden State Mutual's assets must be submitted to the Liquidator. Since the estate does not have the funds to conduct a POC process, the Liquidator will be submitting an application to the Court to Forgo the Claims process. The hearing date for this application is March 25, 2015

On March 25, 2015 the Liquidator will also seek approval to sell the remaining Real Estate asset and will also seek approval of the estates administrative expenses for the time period of 2012-2014.